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Quiz 2: Contract / Payment Terms

Authored by Ahmad Ismail

Specialty

Professional Development

Used 19+ times

Quiz 2: Contract / Payment Terms
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9 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following standard clause governs the legal jurisdiction under the contract ?

Termination

Assignment

Confidentiality

Governing Law & Arbitration

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where in the contract stated about the guaranteed specifications and also on the Invoicing quantity?

Deal Done

Quantity and Quality Clause

Guaranteed Specifications Clause

Frame Contract

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not part of “Force Majeure” event ?

War

Cargo off-specification

Riot

Terminal on fire

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What constitute as a valid contract ?

Made voluntarily

Happened between two or more competent parties

Exchanged with something of value

All of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Composite ship tank sample?

Sample taken from each ship tanks individually

Sample obtained by taking the cargo from shoretank before loading

A sample obtained by mixing all the cargoes from individual ship tanks into 1 sample

Sample taken after cargo in the tank has been filled to approximately 1 foot high

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the most secure Payment mode for the Seller ?

Documentary Credit (LC)

Open Account

Advanced Payment

SBLC

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following carry the most risk to the seller in terms of payment mode ?

Documentary Credit (LC)

Open Account

Advance Payment

SBLC

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